Qatari Diar plans $660m resort

Doha, July 24, 2008

Qatari Diar Real Estate Investment Company plans to develop a $660 million luxury resort and golf course in Morocco.

Qatari Diar, a unit of Qatar Investment Authority, will develop the project in the coastal city of Tangier, Gulf Times reported, citing Qatari Diar deputy CEO Ahmed al-Mazroei.

The company has also appointed Kempinski Hotels to manage a new five-star hotel and spa on the same development.

The complex, which covers 234 hectares of coastal land, will include another five-star hotel, a public beach club, residential apartments and villas, retail and entertainment facilities and a residential club.

There will also be a convention centre, club house, casino, forest stables and a variety of other sports facilities.